Polk County Community Foundation Inc

Analysis

Polk County Community Foundation Inc is a registered charity in United States, based in Tryon, NC. It received its IRS tax-exemption ruling in October 1975, 51 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Polk County Community Foundation Inc reported income of $3.2m and spending of $2.5m, leaving 23% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $2.4m to $3.2m (+37%), an average of +11% a year. The sharpest change came in the year to December 2020, when income rose by 51%. Over the whole period it spent 87% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Polk County Community Foundation Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 91st percentile within NC. Charities of a similar size with the same main cause include JPS Foundation ($3.2m), Fish ($3.2m) and Safelight Inc ($3.2m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 64% of the total. Compensation of current officers, directors and key employees was $201k (8.0% of expenses). Other salaries and wages came to $214k. At year end it held assets of $56.5m against liabilities of $3.9m, net assets of $52.6m. It reported 6 employees.